Airline passenger revenues will drop by $314 billion in 2020, a 55% decline compared to 2019, according to an updated analysis by the International Air Transport Association (IATA). On March 24, the organization estimated $252 billion in lost revenues (44% down from 2019). The updated figures reflect a deepening of the crisis and reflect: severe domestic restrictions lasting three months; some restrictions on international travel extending beyond the initial three months; and worldwide impact, including areas less impacted in the March analysis. Alexandre de Juniac, CEO, said the industry outlook grows darker by the day, with a sharp V-shaped recovery unlikely. Realistically, he said, it will be a U-shaped recovery, with domestic travel coming back faster than the international market. De Juniac said financial relief for airlines “should be a critical policy measure for governments.” He said that will give airlines “a fighting chance” of being viable businesses “that are ready to lead the recovery by connecting economies when the pandemic is contained.”